Well the news about 1.1.4 is that there's no news -- the apps are the same, the features are the same. The good news is the popular ZiPhone / iJailBreak method of jailbreaking works just fine -- for Jailbreaking. Unlocking is apparently still a no-go, but just you wait, it will be.
We're also hearing reports that the Bluetooth-dropped call issue has been fixed, along with the SMS order bug. Huzzah!